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Hammerson has raised $443 million from American investors in a private placement that will help to fund its development pipeline in Britain and France.

The retail developer has signed an agreement with nine institutions for 7, 10 and 12-year notes in its debut debt issuance in the United States.

It is the biggest private placement in the US by a European property company this year and shows the increasing demand from American investors for British property. It is also the second-biggest private placement in the property sector after British Land, which raised $480 million in 2011.